Wanna know how to get a surety bond for the notary public? Here is the complete guide from starting to its total cost.
As a notary public, you can conduct your business while sitting in any office within your city. Surety Bond for Notary Public that covers any type of financial and non-financial misconducts and protects both sides.
What is a Notary Public Surety Bond?
Put simply, a Notary Public Surety Bond is a guarantee to a third-party by a surety company that you (as the signer of the bond) will perform as promised. In the case of Notary Public bonds, this means that you will fulfill the duties required of your position.
This is important because of the risk involved in being a notary: if you do not fulfill your responsibilities and duties, it can lead to financial loss for the third party or other parties involved. It’s also an important way for a potential employer to know that they are hiring someone who has been bonded and who has thus proven their responsibility to other parties.
In simple words, a surety bond for the notary public works like an insurance policy. Once you pay to get bonded, and if you commit fraud while acting as a notary public. Your surety company will reimburse anyone who was damaged by your actions.
How to get surety bond for notary:
So you’re getting into the notary business? That’s awesome!
It’s great to know that you want to help your community and make sure important documents are properly witnessed.
But before you can get started, there’s one thing you have to do first: get a notary bond.
You can get a notary bond by contacting any surety company that sells notary bonds. The surety company will need to have the notary public sign an affidavit before filing it, which is just another way of saying making sure you agree to the contract of upholding yourself as a notary. It’s really important that you understand what this document is before signing it, so that you don’t have any misunderstandings later on!
Please also note there are time-specific rules for filing surety bonds. For instance, in California you have 30 days to get this filed. If you can’t find this information on your state’s website, then call them and ask them to clarify the subject.
How much a surety bond can cost:
There isn’t any fixed amount for each surety bond. It varies from company to company However, it depends on what is your state and the bond type you’re buying.
Here is the table of surety bond normal costs for almost every state;
|District of Columbia||5 years||$50|
|New Mexico||4 years||$50|
|North Dakota||6 years||$50|
|South Dakota||6 years||$50|